Daily Current Affairs October 26 & 27

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs October 26 & 27. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

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October 26 & 27 | Daily Current Affairs 2024

Important Days – Daily Current Affairs October 26 & 27

1. Where was the grand celebration of “World Gibbon Day 2024” held in Assam?
A) Guwahati
B) Tezpur
C) Dighalsaku, Barekuri
D) Jorhat
E) Tinsukia
Answer: C) Dighalsaku, Barekuri

Event and Location:

• Event: Celebration of World Gibbon Day 2024 on October 24, 2024
• Location: Dighalsaku village in Barekuri, Tinsukia District, Assam

Key Highlights of the Event:

• Objective: The celebration aimed to promote environmental awareness and cultural unity while honoring the Hoolock Gibbon, a species symbolic of Assam’s biodiversity.
• Participants and Support: The event saw a significant turnout, including:
  • Prominent Figures: MLA Bolin Chetia, actress Asha Bordoloi, cultural icon Bipul Rabha, and thousands of local residents.
  • Traditional Performances: Cultural troupes showcased Assam’s heritage through traditional songs and dances.
• Organizers: Organized by the Barekuri Environment Development Committee and Barekuri Holou Park, Dighalsaku Branch Management Committee, with support from the Assam Government.
• Supporting Organizations: Supervised by the Forest Department and Tinsukia District Administration, with active participation from the Assam Moran Sabha, Navjyoti Youth Association, Surujjyoti Youth Association, Dighalsaku Women’s Association, and other local groups.

Important Terms Explained:

• World Gibbon Day: An annual event on October 24, dedicated to raising awareness about the Hoolock Gibbon, India’s only ape species, and its conservation.
• Hoolock Gibbon: An endangered primate species found in Northeast India, also known locally as “Holou.”

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Ranking – Daily Current Affairs October 26 & 27

2. According to the recent UNESCO report, what percentage of its GDP has India earmarked for education between 2015 and 2024?
A) 3% to 3.5%
B) 2% to 2.5%
C) 4.1% to 4.6%
D) 5% to 6%
E) 6% to 7%
Answer: C) 4.1% to 4.6%

Event and Location:

• Event: UNESCO report reveals India’s higher investment in education compared to countries like China and Japan.
• Location: Global report mentioning India’s education expenditure levels.

Key Highlights of the UNESCO Report:

• India’s Education Expenditure: India has allocated 4.1% to 4.6% of its GDP towards education from 2015 to 2024, which is higher than that of China and Japan. This is in line with international recommendations.
• Global Benchmark: The UN Education 2030 Framework for Action suggests countries allocate 4% to 6% of their GDP for education. India’s spending is aligned with this goal, indicating a commitment to educational advancement.
• Comparison with Other Nations: India’s educational spending as a percentage of GDP and government expenditure is also higher than that of several other Central and Southern Asian countries.

Important Terms Explained:

• UNESCO: The United Nations Educational, Scientific and Cultural Organization, an agency that promotes peace and security through education, science, and culture.
• GDP (Gross Domestic Product): The total monetary value of all goods and services produced in a country, used to measure a nation’s economic health.
• UN Education 2030 Framework for Action: A global initiative under UNESCO that sets educational goals, recommending a 4-6% GDP allocation for education to support sustainable development.

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3. Which city has topped the list of most popular travel destinations for Indian travelers in 2025?
A) Almaty
B) Baku
C) Shillong
D) Langkawi
E) Tashkent
Answer: C) Shillong

Event and Location:

• Event: Shillong tops the list as the most popular travel destination for Indian travelers in 2025.
• Location: Shillong, capital of Meghalaya, India

Key Highlights of the Report:

• Popularity of Shillong: According to Skyscanner’s ‘Travel Trends Report’, Shillong has become the top choice for Indian travelers, surpassing popular international destinations like Baku (Azerbaijan) and Almaty (Kazakhstan).
• Reasons for Preference:
  • Affordability and unique experiences are driving factors for Indian travelers, with Shillong offering a mix of natural beauty and cultural richness. Known as the “Scotland of the East,” Shillong is popular for its scenic landscapes and picturesque hills.
  • Experiential Travel: Younger Indian travelers are increasingly looking for immersive experiences such as art and sports events. Gaming-themed vacations and astro-adventures (stargazing) are also gaining popularity.
• Budget Travel Preferences: Other destinations like Almaty, Singapore, and Kuala Lumpur are becoming more attractive due to significant reductions in airfare costs from India.

Important Terms Explained:

• Gami-Vacation: A new trend in tourism focused on gaming-related experiences, where travelers can engage in gaming-themed activities or events.
• Astro-Adventures: This refers to travel experiences centered around stargazing and astronomical events, which have gained traction as unique and immersive experiences.
• Skyscanner’s Travel Trends Report: A report by Skyscanner that analyzes emerging travel trends and popular destinations based on affordability, traveler preferences, and changes in airfare.

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Banking and Finance – Daily Current Affairs October 26 & 27

4. What action did SEBI take against First Overseas Capital for violations of Merchant Bankers regulations?
A) Allowed limited mandates for FOCL until compliance is achieved
B) Temporarily barred FOCL from managing new public issue mandates
C) Fined FOCL for false submissions but allowed operations to continue
D) Permitted FOCL to operate as a merchant banker with reduced net worth
E) Approved FOCL’s activities with a warning for future compliance
Answer: B) Temporarily barred FOCL from managing new public issue mandates

Event and Location:

• Event: SEBI bars First Overseas Capital Ltd. (FOCL) from taking new mandates as a lead manager in public issues of debt securities due to regulatory violations.
• Location: India

Mandates and Objectives of SEBI’s Action:

• Purpose of Action: SEBI’s action aims to protect the securities market and investor interests by ensuring all merchant bankers meet mandatory requirements, including capital adequacy standards.
• Specific Violations:
  • Capital Adequacy Violation: FOCL did not meet the required net worth of ₹5 crore as mandated under Merchant Bankers (MB) regulations.
  • Public Deposit Violation: FOCL allegedly accepted public deposits to meet underwriting obligations, in violation of the Companies Act, 2013 and SEBI rules.
  • Overextended Obligations: FOCL’s underwriting obligations at various points allegedly exceeded 20 times its net worth.
  • Misleading Submissions: The entity was found to have made false and misleading submissions to SEBI.
• Outcome of Action: FOCL has been barred from accepting any new mandates related to issue management, including any advisory or consulting role in public issue processes until further notice.

Important Terms Explained:

• Capital Adequacy Requirement: This is a regulatory standard ensuring that financial entities maintain a minimum net worth; for merchant bankers in India, this minimum is ₹5 crore.
• Merchant Banker: A firm or individual authorized to manage public issues, including advisory and underwriting services, in accordance with SEBI regulations.
• Underwriting Obligations: A merchant banker’s commitment to subscribe to a certain number of securities in an offering if not fully subscribed by the public.

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5. What action has Sa-Dhan, the RBI-appointed SRO, recommended for its microfinance members regarding Return on Assets (RoA)?
A) Increase RoA to 5%
B) Cap RoA at 4%
C) Reduce RoA to 2%
D) Cap interest rates at 6%
E) Eliminate RoA limits entirely
Answer: B) Cap RoA at 4%

Event and Location:

• Event: Advisory issued by Sa-Dhan, an RBI-appointed Self-Regulatory Organization (SRO), to limit Return on Assets (RoA) for NBFC-MFIs.
• Location: India

Mandates and Objectives of the Advisory:

• Objective of Sa-Dhan’s Recommendation: Sa-Dhan has advised NBFC-MFIs (Non-Banking Financial Company – Microfinance Institutions) to cap their RoA at 4% in response to excessive interest rates being charged to borrowers. This recommendation aims to enhance fairness in lending practices and avoid “usurious” interest rates that burden borrowers.
• Reason for Action: The advisory follows a recent RBI crackdown on four NBFCs for charging high interest rates and violating regulatory norms. The RBI found that some NBFCs were maintaining excessive interest spreads (up to 14%) and were imposing lending rates between 26% and 28%, well above fair practice expectations.
• Sa-Dhan’s Actions: Sa-Dhan plans to collect data on interest rates and loan pricing policies across its 80-85 NBFC-MFI members to enforce the recommended RoA cap and ensure fair pricing practices.

Important Terms Explained:

• Return on Assets (RoA): A profitability ratio indicating how efficiently an institution generates profit relative to its assets. For microfinance, a RoA cap ensures profits are earned fairly without excessive interest rates.
• Spread in Lending Rates: The difference between the cost of funds and the interest rate charged to borrowers. High spreads indicate lenders are charging significantly more than their funding costs, leading to potentially exploitative practices.
• Income Recognition & Asset Classification (IR&AC): These norms set guidelines for recognizing income and classifying assets, essential to assess the true financial health of a lender.

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6. How much loan has the European Investment Bank (EIB) approved for Bengaluru’s suburban railway network?
A) €200 million
B) ₹4,650 crore
C) ₹30,225 crore
D) €300 million
E) €500 million
Answer: D) €300 million

Event and Location:

• Event: European Investment Bank (EIB) announces funding for Bengaluru Suburban Railway Network
• Location: Bengaluru, Karnataka, India
• Date: October 26, 2024

Key Highlights of the EIB Loan for Bengaluru Suburban Railway:

• Loan Details: EIB has approved a loan of €300 million (₹2,800 crore) to develop a new suburban railway network in Bengaluru.
• Project Scope: This project involves the construction of four dedicated rail corridors covering 149 km with 58 stations and two depots. It is designed to alleviate traffic congestion and reduce pollution by shifting transportation from road to rail.
• Long-Term Impact:
  • Expected to reduce CO2 emissions by 43% by 2040.
  • Projected to accommodate 4 lakh daily trips in 2029, increasing to 14 lakh daily trips by 2040.
• Historical Context: Since 2016, EIB has invested €3.25 billion in India’s transport sector, making India the largest beneficiary of EIB transport financing outside Europe. This includes a previous €500 million loan for a segment of the Bengaluru Metro.

Important Terms Explained:

• European Investment Bank (EIB): The EIB is the European Union’s investment bank, providing loans for projects that support EU policy goals globally, including urban mobility and infrastructure.
• Suburban Railway: A rail network that connects urban areas with suburban regions, typically aimed at easing daily commuter traffic and reducing road congestion.

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Science and Technology – Daily Current Affairs October 26 & 27

7. What is the prize for the first place winner in the IndiaAI CyberGuard AI Hackathon?
A) INR 3 Lakhs
B) INR 5 Lakhs
C) INR 7 Lakhs
D) INR 25 Lakhs
E) INR 15 Lakhs
Answer: D) INR 25 Lakhs

Event and Location:

• Event: Launch of the IndiaAI CyberGuard AI Hackathon
• Location: New Delhi, India (Announced by IndiaAI and Indian Cyber Crime Coordination Centre – I4C)

Mandates and Objectives of the IndiaAI CyberGuard Hackathon:

• Objective: The IndiaAI CyberGuard AI Hackathon is designed to foster AI-based solutions that can enhance cybersecurity and mitigate the growing threat of cyber fraud and crime.
• Organizers and Collaborators: This hackathon is a collaborative initiative between IndiaAI and Indian Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs.
• Participant Eligibility: Open to Indian innovators, startups, students, academic and R&D organizations, companies, and non-profits.
• Application Deadline: 07th November 2024
• Significance: This initiative aligns with the government’s vision to promote AI for Citizen Safety and leverage AI for inclusive growth and national cybersecurity.

Prize Structure and Incentives:

• First Prize: INR 25 Lakhs and the opportunity to develop a solution for national deployment.
• Second Prize: INR 7 Lakhs
• Third Prize: INR 3 Lakhs
• Special Prize: INR 5 Lakhs for All-Women Teams in addition to the top three prizes.

Important Terms Explained:

• IndiaAI Mission: A government initiative focused on fostering AI development, deployment, and adoption across sectors to drive socio-economic transformation.
• Indian Cyber Crime Coordination Centre (I4C): Established by the Ministry of Home Affairs, I4C manages the National Cybercrime Report Portal (NCRP) to coordinate efforts to mitigate cybercrime across India.
• National Cybercrime Report Portal (NCRP): A centralized online platform for reporting and addressing cybercrime cases in India, supporting Law Enforcement Agencies in prevention and investigation.

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National Affairs – Daily Current Affairs October 26 & 27

8. What key amendment has been made to the Bicycle Retro-Reflective Devices (Quality Control) Order, 2020, as per DPIIT’s recent notification?
A) The QCO mandates only domestic manufacturing of bicycle reflectors.
B) QCO exempts imports of 200 bicycle reflectors for export purposes.
C) Exemption of 200 bicycle reflectors for R&D by manufacturers has been allowed.
D) Imports of bicycle reflectors are banned entirely.
E) QCO exempts imports of all bicycle components for export purposes.
Answer: C) Exemption of 200 bicycle reflectors for R&D by manufacturers has been allowed.

Event and Location:

• Event: Amendment of the Bicycle Retro-Reflective Devices (Quality Control) Order, 2020
• Location: Delhi, India (Notification by DPIIT)

Mandates and Objectives of the Amendment:

• Purpose of Amendment: To ease business operations and encourage innovation by allowing specific exemptions, thereby attracting investments and promoting the growth of a quality-oriented ecosystem in line with the Make in India initiative.
• Amended Provisions:
  • Exemption for importing 200 bicycle reflectors for research and development (R&D) by manufacturers.
  • Exemption for the import of bicycle reflectors by Indian manufacturers for export purposes, subject to specific conditions.
• Expected Outcomes: Through quality compliance and continuous improvements, this order aims to establish India as a global hub for premium-quality manufacturing, enhancing product reliability and consumer trust.

Important Terms Explained:

• Quality Control Orders (QCOs): Mandated by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Bureau of Indian Standards (BIS) Act, QCOs are a set of compliance standards to maintain product quality in India, covering a wide range of goods.
• WTO Agreement on Technical Barriers to Trade (TBT): A WTO agreement that addresses product regulations, standards, and conformity assessments, ensuring such measures do not create unnecessary trade obstacles.
• Zero Defect – Zero Effect: An initiative by the Prime Minister promoting manufacturing processes that produce defect-free products while minimizing negative environmental impacts, aligning with the goals of QCOs.

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9. Who was the Chief Guest at the conclusion of the First Mid-Career Training Programme for BIMSTEC Civil Servants conducted by NCGG?
A) Shri Surendra Kumar Bagde
B) Shri V. Srinivas
C) Dr. A.P. Singh
D) Dr. M.K. Bhandari
E) Shri Sanjay Dutt Pant
Answer: B) Shri V. Srinivas

Event and Location:

• Event: Conclusion of the First Mid-Career Training Programme for BIMSTEC Civil Servants
• Location: Conducted in Mussoorie and New Delhi

Mandates and Objectives of the Training Programme:

• Objective: This program aimed to enhance governance capacities and promote regional cooperation among BIMSTEC member nations by sharing governance models and best practices.
• Organizers: Conducted by the National Centre for Good Governance (NCGG).
• Participant Profile: Included 36 senior civil servants from BIMSTEC countries like Sri Lanka, Myanmar, Nepal, and Bhutan, with roles such as Deputy Commissioners and Assistant Divisional Secretaries.
• Chief Guest and Key Highlights:
  • Chief Guest: Shri V. Srinivas, Secretary, DARPG
  • Remarks: Emphasized digitalization in governance through India’s “Minimum Government, Maximum Governance” principle, showcasing models in procurement, fintech, and grievance redressal.

Important Terms Explained:

• National Centre for Good Governance (NCGG): Established in 2014, NCGG is dedicated to training civil servants, focusing on governance improvements, transparency, and accountability.
• BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation): A regional organization promoting cooperation among South and Southeast Asian countries, including India, Bangladesh, Myanmar, Sri Lanka, Thailand, Nepal, and Bhutan.
• DARPG (Department of Administrative Reforms and Public Grievances): Government of India department focusing on administrative reforms and the enhancement of grievance redressal mechanisms.

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10. What will India’s planned Space Station, set to be established by 2035, be called?
A) Indian Space Hub
B) Bharatiya Antriksh Station
C) Akash Bhavan
D) Bharat Space Mission
E) Swadeshi Space Station
Answer: B) Bharatiya Antriksh Station

Event and Location:

• Event: Announcement of India’s own Space Station, Bharatiya Antriksh Station by 2035 and the signing of an MoU between ISRO and the Department of Biotechnology (DBT)
• Location: Delhi, India

Mandates and Objectives of the ISRO-DBT MoU:

• Objective: To foster a new era of space and biotechnology collaboration aimed at integrating biotech advancements into space research, enhancing India’s scientific capabilities.
• MoU Highlights:
  • Launch of Bharatiya Antriksh Station (India’s space station) by 2035.
  • Development and rollout of the BioE3 Policy (Biotechnology for Economy, Environment, and Employment) aiming for a $300 billion bioeconomy by 2030.
• Primary Focus Areas:
  • Microgravity research, space biotechnology, space biomanufacturing, bioastronautics, and space biology
  • Boosting human health research through innovations in pharmaceuticals, regenerative medicine, and bio-based waste management technologies.

Important Terms Explained:

• BioE3 Policy: A national policy initiative that promotes biotechnology development across economy, environment, and employment sectors, aimed at expanding India’s bioeconomy.
• Space Biomanufacturing: Refers to biotechnological production in space, capitalizing on unique environmental factors like microgravity for breakthroughs in materials and life sciences.
• Bioastronautics: The study of life sciences related to human space travel, focusing on the impact of space on biological organisms and the development of life-support systems.

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11. What is the loan range provided under the new Tarun Plus category of the Prime Minister Mudra Yojana?
A) 5 to 10 lakhs
B) 15 to 25 lakhs
C) 10 to 20 lakhs
D) 20 to 30 lakhs
E) 25 to 35 lakhs
Answer: C) 10 to 20 lakhs

Event and Location:

• Event: Introduction of Tarun Plus category under the Prime Minister Mudra Yojana (PMMY), with increased loan limits for entrepreneurs.
• Location: Announced as part of the Union Budget 2024-2025 in India.

Key Highlights of Tarun Plus:

• Loan Range: The Tarun Plus category offers loans between ₹10 lakh and ₹20 lakh for entrepreneurs.
• Eligibility: This loan range is available to entrepreneurs who have successfully repaid their previous Tarun loans under the PMMY.
• Purpose of Increase: The Government’s decision to increase the loan limit reflects its commitment to promoting entrepreneurship and supporting small businesses in India.
• Credit Guarantee Fund for Micro Units (CGFMU): Loans under the Tarun Plus category are covered by the CGFMU, enhancing credit access and reducing risk for lenders, making it easier for small businesses to secure funding.

Important Terms Explained:

• Prime Minister Mudra Yojana (PMMY): A government scheme launched to provide financial assistance to small and micro enterprises in India. PMMY has three categories: Shishu (up to ₹50,000), Kishor (₹50,000 to ₹5 lakh), and Tarun (₹5 lakh to ₹10 lakh), with Tarun Plus now extending this range to ₹20 lakh.
• Credit Guarantee Fund for Micro Units (CGFMU): A fund that provides credit guarantees for loans issued to micro and small units, helping reduce lending risks and encourage financial institutions to provide loans to small businesses.

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12. Where was the TATA Aircraft Complex for manufacturing C-295 aircraft inaugurated?
A) Ahmedabad, Gujarat
B) Mumbai, Maharashtra
C) Vadodara, Gujarat
D) Delhi
E) Pune, Maharashtra
Answer: C) Vadodara, Gujarat

Event and Location:

• Event: Inauguration of TATA Aircraft Complex for manufacturing C-295 aircraft
• Date: October 28, 2024
• Location: Vadodara, Gujarat

Key Highlights of the Inauguration:

• Inaugurated By: Prime Minister Narendra Modi and Prime Minister of Spain, Mr. Pedro Sanchez
• Significance: This facility is India’s first private sector Final Assembly Line (FAL) for military aircraft, marking a significant milestone in India’s defense manufacturing capabilities.
• Objective of the Project:
  • To manufacture 40 C-295 aircraft in India as part of a total of 56 aircrafts under the C-295 program. The remaining 16 aircraft will be directly supplied by Airbus from Spain.
  • Strengthens Make in India, Make for the World mission by enhancing local manufacturing capabilities, generating jobs, and creating opportunities for MSMEs across India.
  • Expected to develop 18,000 aircraft parts indigenously and provide a complete lifecycle support ecosystem, from manufacturing to maintenance.
• Additional Guests: The event was attended by Gujarat’s Governor, Acharya Devvrat, Chief Minister Bhupendra Patel, Union Defence Minister Rajnath Singh, and Union External Affairs Minister S. Jaishankar.

Important Terms Explained:

• C-295 Aircraft: A transport aircraft with tactical capabilities designed for military and disaster relief operations, initially developed by Airbus.
• Final Assembly Line (FAL): The production facility where final assembly and testing of an aircraft are completed before delivery.
• Make in India: A government initiative to boost domestic manufacturing and reduce dependency on imports.

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Over All Review

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